Argo Group International (NYSE:ARGO) Shares Gap Up to $25.68

Argo Group International Holdings, Ltd. (NYSE:ARGO – Get Rating) shares gapped up prior to trading on Friday . The stock had previously closed at $25.68, but opened at $26.28. Argo Group International shares last traded at $26.60, with a volume of 474 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Argo Group International in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Argo Group International Stock Up 5.4 %

The business has a 50-day moving average price of $26.13 and a 200-day moving average price of $24.21. The company has a market capitalization of $948.72 million, a price-to-earnings ratio of -4.89 and a beta of 0.99. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.34.

Argo Group International (NYSE:ARGO – Get Rating) last announced its earnings results on Monday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.13) by $2.57. The company had revenue of $489.00 million for the quarter, compared to analyst estimates of $505.60 million. Argo Group International had a positive return on equity of 2.59% and a negative net margin of 9.58%. As a group, equities analysts anticipate that Argo Group International Holdings, Ltd. will post 0.95 earnings per share for the current fiscal year.

Argo Group International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Tuesday, November 29th. Argo Group International’s dividend payout ratio (DPR) is presently -22.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mutual Advisors LLC purchased a new position in shares of Argo Group International during the fourth quarter valued at $706,000. First Hawaiian Bank grew its holdings in shares of Argo Group International by 56.3% during the fourth quarter. First Hawaiian Bank now owns 16,664 shares of the company’s stock valued at $431,000 after buying an additional 6,000 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Argo Group International during the third quarter valued at $443,000. Bank of New York Mellon Corp grew its holdings in shares of Argo Group International by 8.2% during the third quarter. Bank of New York Mellon Corp now owns 132,334 shares of the company’s stock valued at $2,548,000 after buying an additional 10,041 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in shares of Argo Group International during the third quarter valued at $2,215,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

About Argo Group International

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Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. It offers primary and excess specialty casualty, general liability, commercial multi-peril, and workers compensation, as well as product, environmental, and auto liability insurance products; management liability, transaction liability, and errors and omissions liability insurance; primary and excess property, inland marine, and auto physical damage insurance; and surety, animal mortality, and ocean marine insurance products.